Aussies set to hit the beach with a closer eye on their wallets, says ING

Sydney beach
Getty image: Young woman at Sydney beach

New ING research shows that most Aussie beachgoers (86%) say the rising cost of living has made them more likely to seek out free activities this summer, with more than half admitting that their main reason for spending time at the beach is because it's free. 

In addition, around 40% say they plan to hit our shores to escape the predicted hot temperatures, with 21% planning to save costs on air conditioning by using the ocean to cool down. 

But despite the beach being a free activity, beachgoers are willing to spend an average of $230 to cover items such as canopies, picnics and beach chairs to elevate their beach day, as per ING's survey. 

Beat the summer: save more money

No matter how you spend this summer however, managing your budget will surely be top of mind. Costs have been higher this year and we’re all feeling the pinch. 

Yet there are two important things you can do to help cool the burning hole in your pocket: 

  1. Think ahead by drawing up a simple budget. Know what you need and how much you can afford to spend on it.
  2. Stash your money in a good savings account. You need an account that earns a better rate of interest and doesn’t smack you with ridiculous fees. 

These two things are achievable! At Mozo, we help Aussies work out better budgets and you can read up on how to do this in one of our many budgeting guides such as this one. We also have experts who decipher which savings accounts are the best in the market. You can start comparing a few of the top savers below.

Have a great budget-friendly summer, everyone!

Compare savings accounts - last updated 25 February 2024

Search promoted savings accounts below or do a full Mozo database search. Advertiser disclosure
  • Reward Saver Account

    5.25% p.a. (for $0 to $1,000,000)

    0% p.a.(for $0 and over)

    Yes up to $250,000

    Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.

    Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.

    Compare
    Details
  • Mozo Expert Choice Badge
    High Interest Savings Account

    5.75% p.a. (for $0 to $250,001)

    4.40% p.a.(for $0 to $250,001)

    Yes up to $250,000

    Bonus rate for the first 4 months from account opening

    Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.

    Compare
    Details
  • Hero Saver

    4.60% p.a. (for $0 to $250,001)

    1.00% p.a.(for $0 to $5,000,001)

    Yes up to $250,000

    Minimum deposit of $200 and no withdrawals in the month.

    Earn a generous variable rate on balances up to $250,001 each month you deposit at least $200 (excluding interest) on or before the last business day each month and make no withdrawals during the month. $0 account maintenance fees. Create a goal, set up regular deposits and track your progress on the Bankwest app.

    Compare
    Details
  • Mozo Expert Choice Badge
    Savings Account

    5.50% p.a. (for $0 to $250,000)

    4.75% p.a.(for $0 to $1,000,000)

    Yes up to $250,000

    Bonus variable rate is available for the first four months.

    Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.

    Compare
    Details
  • Reward Saver

    5.25% p.a. (for $0 to $100,000)

    0.30% p.a.(for $0 and over)

    Yes up to $250,000

    Earn a high interest bonus rate if you hold an eligible transaction account and meet the bonus rate conditions (T&Cs apply). Only requires $1 to open. Free e-banking transactions. No monthly service fees to pay. Access your account via e-banking or the Bendigo Bank app. Not applicable to business customers.

    Compare
    Details

^See information about the Mozo Experts Choice Savings Account Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.